4.3 C
New York
Tuesday, May 30, 2023
HomeBusinessCBN won’t extend January 31 deadline for naira deposits – Emefiele

CBN won’t extend January 31 deadline for naira deposits – Emefiele

The Central Bank of Nigeria, CBN, has ruled out an extension of the January 31 deadline for naira deposits.

CBN Governor, Godwin Emefiele confirmed this on Tuesday at a meeting of the Monetary Policy Committee in Abuja.

Emefiele responded to a question on the extension of the ultimatum following complaints by a section of Nigerians.

“Unfortunately, I don’t have good news for those who say we should shift the deadline,” he said.

“The reason is because 90 days, in fact, 100 days, is enough for anybody who has the old currency to deposit it in the bank.

We took every measure to ensure all the banks remain open to receive the old currency, including opening on Saturdays.


We do not see any reason to begin to talk about a shift. We believe 100 days is more than adequate,” Emefiele added.

On Tuesday, the Senate asked the apex bank to postpone the deadline for phasing out old notes to July 31.

The Red Chamber also urged the CBN to compel banks to open naira exchange windows for those without bank accounts.




Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisment -

Most Popular

Recent Comments

Onuegbu Chuks Theophilus on Mikel Obi quits Super Eagles
Thomas H. Anderson on Roman Goddess_3
Oladimeji Emmanuel on Obama sends investors to Buhari